First Place Running Shoes reports the following: Transaction

View the transaction information.

Journalize all entries required for First Place Running Shoes. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

Feb. $4,2024$: Recorded credit card sales of $$120,000,$ net of processor fee of $1\%.$ Ignore Cost of Goods Sold. $($Prepare a single compound journal entry.$)$